Investors with a lot of money to spend have taken a bearish stance on DraftKings (NASDAQ:DKNG).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DKNG, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for DraftKings.
This isn't normal.
The overall sentiment of these big-money traders is split between 21% bullish and 64%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $649,386, and 3 are calls, for a total amount of $157,388.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $32.5 and $50.0 for DraftKings, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for DraftKings's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DraftKings's whale activity within a strike price range from $32.5 to $50.0 in the last 30 days.
DraftKings 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | PUT | TRADE | BEARISH | 10/17/25 | $2.26 | $2.11 | $2.26 | $42.00 | $144.8K | 1.0K | 0 |
| DKNG | PUT | TRADE | NEUTRAL | 10/17/25 | $2.39 | $2.14 | $2.25 | $42.50 | $90.2K | 9.6K | 302 |
| DKNG | PUT | SWEEP | BEARISH | 10/17/25 | $0.36 | $0.13 | $0.36 | $37.00 | $74.8K | 37 | 0 |
| DKNG | CALL | TRADE | BEARISH | 03/20/26 | $10.25 | $9.95 | $9.95 | $32.50 | $69.6K | 1.2K | 70 |
| DKNG | PUT | SWEEP | BULLISH | 10/17/25 | $2.3 | $2.23 | $2.3 | $42.50 | $58.6K | 9.6K | 708 |
About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in 28 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
Following our analysis of the options activities associated with DraftKings, we pivot to a closer look at the company's own performance.
Present Market Standing of DraftKings
- With a trading volume of 1,729,955, the price of DKNG is down by -4.05%, reaching $40.59.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 37 days from now.
What The Experts Say On DraftKings
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $56.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS has decided to maintain their Buy rating on DraftKings, which currently sits at a price target of $56.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for DraftKings, Benzinga Pro gives you real-time options trades alerts.
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